Theyre goin down

Discussion in 'Credit Talk' started by sahlegian, Oct 1, 2003.

  1. sahlegian

    sahlegian Well-Known Member

    I just got off the phone with our bank, we have dropped our interest rate to 5.50 % from 5.75 percent because of interest rates dropping since our loan approved on Tuesday, It cost us 295 dollars to re do the paperwork but it will save us 30 dollars a month, and 10,000 over the life of the loan. We have until title transfer on Oct 25th , then we would have to re finance. I suggest all of you house hunters buy now. Interest rates will probably not get all that much lower..
     
  2. trish6103

    trish6103 Well-Known Member

    Great news!
     
  3. Hedwig

    Hedwig Well-Known Member

    Is it fixed or an ARM? What is the term of the loan?
     
  4. sahlegian

    sahlegian Well-Known Member

    30 yr fixed loan,, 360 months (standard 30 yr loan).
     
  5. Hedwig

    Hedwig Well-Known Member

    That's great! I thought rates had gone higher than that!
     
  6. sahlegian

    sahlegian Well-Known Member

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